CARE ratings for Indian debt instruments-Mar 22

Mar 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of March 21, 2018. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) -------

----------

------

------- --------- SHORT TERM RATINGS: ------------------- Akash Fishmeal And Fishoil Pvt Ltd

ST Bk Fac

CARE A4

40

- Issuer not cooperating; based on best available information Anand Motor Agencies Ltd

ST Bk Fac

CARE A3

30

Reaffirmed Cebon Ceramic Pvt Ltd

ST BkFac

CARE A4

10

Reaffirmed City Life Line Travels Pvt Ltd

ST Bk Fac

CARE A3

100

Reaffirmed Classic Corrugations Pvt Ltd

ST Bk Fac

CARE A4

9

Assigned E Vaidya Pvt Ltd

ST Bk Fac

CARE A4

21.5

- Issuer Not Cooperating on the basis of best available information Fair Deal Cars Pvt Ltd

ST Bk Fac

CARE A4+

50

Assigned Geo Miller & Company Pvt. Ltd.

ST BkFac

CARE A3

733

Reaffirmed Gravita Metal Inc

ST BkFac @

CARE A2+ (SO) 7.2

Reaffirmed @ backed by unconditional and irrevocable corporate guarantee provided by Gravita India Ltd. to the above mentioned bank facilities. Great White Global Pvt. Ltd.

Bk

CARE A3

409.8 Re-affirmed

Fac-Non-fundbased (Enhanced from 15.00 Crore) Heeru Corrosion Protection Services ST Bk Fac

CARE A3

155

Reaffirmed India Pvt Ltd (enhanced from 6.50 Crore) Himachal Baspa Power Co. Ltd

Proposed CP (CP) CARE A1+

3000

Assigned

issue (Rupees Three hundred crore Only Crore) Ivl Finance Ltd

CP

CARE A1+

7500

Assigned Kuber Casting Pvt Ltd

ST Bk Fac

CARE A4

35

- Issuer not cooperating, Based on best available information Mangalam Timber Products Ltd.

ST Bk Fac

CARE A4

25.8

Reaffirmed Mangaldeep Cold Storage Pvt Ltd

ST Bk Facility

CARE A4

1.3

Assigned Orient Press Ltd

ST Bk Fac

CARE A3+

210

Reaffirmed Ponni Fab

LT Bk Fac

CARE A4

70

Assigned Rani Aqua Feeds Pvt Ltd

ST Bk Fac

CARE A4

25

Reaffirmed Rattan Polychem Pvt Ltd

ST Bk Fac

CARE A4

50

Reaffirmed Raychem Rpg Pvt Ltd

Corporate

CARE CGR 2-

-

Reaffirmed

Governance Rating S. S. Engineering Works

ST Bk Fac

CARE A4

25

- Issuer not cooperating; based on best available information Santosh Beej Bhandar

ST Bk Fac

CARE A4

1

- Issuer not cooperating; Based on best available information Shree Contractor

ST Bk Fac

A4+

300

Reaffirmed Skp Buildcon Pvt Ltd

ST Bk Fac

CARE A4

85

- Issuer not cooperating; Based on best available information Sri Anjaneya Cotton Mills Ltd

ST Bk Fac

CARE A4

70

Reaffirmed T C Communication Pvt Ltd

ST BkFac

CARE A4

30

Assigned Vasupati Agro Product Pvt Ltd

ST Bk Facility

CARE A4

1.3

Assigned Westin Resins And Polymers Pvt Ltd

ST Bk Fac

CARE A4

50

Reaffirmed MEDIUM TERM RATINGS: ------------------- Sardar Sarovar Narmada Nigam Ltd

Fixed Deposit (FD) CARE BBB+

-

Reaffirmed

programme Orient Press Ltd

Medium-term

CARE BBB

80

Reaffirmed

FixedDeposits LONG TERM RATINGS: ------------------- Aban Offshore (NS: ABAN ) Ltd

LT Bk Fac

CARE D

5840

Reaffirmed Aban Offshore Ltd

CRPS Issue Series CARE D

1050

Reaffirmed

I Aban Offshore Ltd

CRPS Issue Series CARE D

1560

Reaffirmed

II Aban Offshore Ltd

CRPS Issue Series CARE D

200

Reaffirmed

III Aban Offshore Ltd

LT/ST Bk Fac

CARE D/D

1250

Reaffirmed Accurate Infra Industries Pvt Ltd

LTBk Fac

CARE D

88.8

- Issuer Not Cooperating Ahuja Builders

LT Bk Fac

CARE BBB-

85

- Issuer not cooperating; Based on best available information Ahuja Builders

Long/ST Bk Fac

CARE BBB- /A3 150

- Issuer not cooperating; Based on best available information Akash Fishmeal And Fishoil Pvt Ltd

LTBkFac

CARE B+

185

Revised from

CARE BB- Issuer not cooperating; Based on best available information* Anand Motor Agencies Ltd

LT Bk Fac

CARE BBB-

249.5 Reaffirmed (enhanced from 20 Crore) Ankit India

ST Bk Fac

-

-

Withdrawn Atria Wind Power (Savarakundla) Pvt LtLT BkFac

CARE BBB-

1275.8 (reduced from 200.45 crore Crore) B.M. Overseas Pvt Ltd

LT Bk Fac

CARE B+

150

Assigned Bhaskar Silk Mills Pvt Ltd

LT Bk Fac

CARE BB

113.3 - Issuer NotCooperating; Based on best available information Cebon Ceramic Pvt Ltd

LT BkFac

CARE B+

24.5

Reaffirmed (reduced from 3.06 Crore) Cebon Ceramic Pvt Ltd

LT/ Shortterm Bk CARE B+/A4

20

Reaffirmed

Fac City Life Line Travels Pvt Ltd

LT Bk Fac

CARE BBB-

50

Reaffirmed Classic Corrugations Pvt Ltd

LT Bk Fac

CARE BB-

98.5

Assigned Deepak (NS: DPFE ) Fertilisers And Petrochemicals LT Instruments-

-

-

Withdrawn Corporation Ltd

NCD E Vaidya Pvt Ltd

LT Bk Fac

CARE B

72.5

- Issuer Not Cooperating on the basis of best available information Enersan Power Pvt Ltd

LT Bk Fac

CARE BBB+

483.9 Revised from

CARE BBB- (Reduced from Rs.48.58 Crore Crore) Fair Deal Cars Pvt Ltd

LT Bk Fac

CARE BB+

700

Assigned Flemingo Travel Retail Ltd

LT Bk Fac

CARE BBB+

1948.5 Assigned Placed on credit watch with developing implications Flemingo Travel Retail Ltd

LT/ST BkFac

CARE BBB+/A2 1151.5 Assigned Placed on credit watch with developing implications Gail Gas Ltd

Proposed LT bond CARE AA

2500

Reaffirmed

issue Gaurinath Agro Products Pvt Ltd

LT Bk Fac

CARE B+

92.9

Assigned Geo Miller & Company Pvt. Ltd.

LT BkFac

CARE BBB-

12 Revised from CARE BBB- Ginni Refractories Pvt Ltd

LT Bk Fac

CARE BB-

80

Revised from

CARE BB Issuer not cooperating; on the basis of best available information Gravita Metal Inc

LT BkFac @

CARE A- (SO) 90

Reaffirmed @ backed by unconditional and irrevocable corporate guarantee provided by Gravita India Ltd. to the above mentioned bank facilities Great White Global Pvt. Ltd.

Bk Fac-FB -LT-TL -

-

Withdrawn Great White Global Pvt. Ltd.

Bk Fac-FB

CARE BBB

500

Re-affirmed Hamilton Land Developers Pvt Ltd

LT Bk Fac

CARE B+

200

Revised from

CARE BB- Issuer not cooperating; Based on best available information* Hanuman Dal Industries

LT Bk Fac

CARE BB-

250.6 - Issuer Not Cooperating on the basis of best available information Hanuman Dal Industries Pvt Ltd

LT Bk Fac (CC)

CARE C

100

- Issuer not cooperating; Based on best available information Hanuman Dal Industries Pvt Ltd

LT Bk Fac (TL)

CARE D

250

- Issuer not cooperating; Based on best available information Hanuman Rice Industries

LT Bk Fac

CARE B+

168.2 - Issuer Not Cooperating on the basis of best available information Haware Properties

LT Bk Fac

CARE BB+

73.8

Assigned Haware Properties

Proposed LT Bk Fac CARE BB+

156.2 Assigned Heeru Corrosion Protection Services LT Bk Fac

CARE BBB-

46

Reaffirmed India Pvt Ltd (enhanced from 2.00 Crore) Hermes Distillery Pvt Ltd

LT Bk Fac

CARE BB-

1000

Revised from

CARE BB- Hexa Ceramic Pvt Ltd

Long -term BkFac CARE BB-

90.4

- Issuer not cooperating Based on best available information Hexa Ceramic Pvt Ltd

Long –term/

CARE BB-/A4

16

-

Shortterm Bk Fac Issuer not cooperating Based on best available information India Home Loans Ltd

LT Bk Fac

CARE BBB-

1000

Reaffirmed Infinity Fincorp Solutions Pvt Ltd

Proposed Bk Fac

CARE A-/A2+

3000

Assigned Ivl Finance Ltd

Long & ST Bk Fac CARE AA/A1+

52500 Assigned Jaliyan Jewellers

LT Bk Fac

CARE B+

120

Assigned Kabra Jewels Pvt Ltd

LT Bk Fac

-

-

Withdrawn Kaithal Solvent Pvt Ltd

LT Bk Fac

CARE B+

166.8 Reaffirmed Kalyanram Rice Industries

LT Bk Fac

CARE BB-

75

Assigned Karan Rice Mills

LT Bk Fac

CARE B-

99

- Issuer not cooperating; Based on best available information* Kashtbhanjan Ginning And Oil IndustrieLT Bk Fac

CARE B+

42.9

- Issuer not cooperating;Based on best available information Koley Multipurpose Himghar Pvt Ltd

LT Bk Facility

CARE B+

78.6

Assigned Kuber Casting Pvt Ltd

LT Bk Fac

CARE BB-

35

- Issuer not cooperating, Based on best available information Kuber Casting Pvt Ltd

LT Bk Fac/ ST Bk CARE BB-/A4

15

-

Fac Issuer not cooperating, Based on best available information M G Kitchenware

LT Bk Facility

CARE BB-

70

Assigned Madhuram Jewellers

LT Bk Fac

CARE B+

60

Assigned Maneesh Pipes Pvt Ltd

LT Bk Fac

CARE BB-

191.5 Revised from

CARE BB Issuer not cooperating; on the basis of best available information Mangalam Timber Products Ltd.

LT Bk Fac

CARE B+

120

Reaffirmed Mangaldeep Cold Storage Pvt Ltd

LT Bk Facility

CARE B+

78.7

Assigned Nkc Projects Pvt Ltd

LT Bk Fac

CARE BBB

575

Revised from

CARE BBB- (enhanced from 52.00 Crore) Nkc Projects Pvt Ltd

LT / ST Bk Fac

CARE BBB

4225

Revised from

CARE BBB- /

CARE A3 (enhanced from 291.00 Crore) Nvesons

LT Bk Fac

CARE B+

57.7

Assigned Om Metals Auto Pvt Ltd

LT Bk Fac

CARE BBB-

29.5

Revised from

CARE BB+ (reduced from 3.75 Crore) Om Metals Auto Pvt Ltd

LT/ ST Bk Fac

CARE BBB-/A3 210

Revised from

CARE BB+/

CARE A4 (enhanced from 17.50 Crore) Orient Press Ltd

LT Bk Fac

CARE BBB

404.1 Reaffirmed Orient Press Ltd

LT/ST BkFac

CARE BBB/A3+ 145

Reaffirmed Panchwati Prayogshala Pvt Ltd

LT Bk Fac

CARE BBB-

92.7

Assigned Panchwati Prayogshala Pvt Ltd

LT / ST Bk Fac

CARE BBB-/A3 7.3

Assigned Pioneer Builderrs Ltd

LT Bk Fac

CARE BBB-

750

Reaffirmed (enhanced from 70.00 Crore) Platinum Trust March 2018 ( OriginatorSeries A PTC

CARE AAA

8298.5 Assigned Cholamandalam (NS: CHLA ) Investment And Finance Co. Ltd ) Printwell Offset

LT Bk Fac

CARE B+

57

- Issuer not cooperating;Based on best available information Prism Enterprise

LT/ ST Bk Fac

CARE B/A4

70

- Issuer not cooperating Ram Cotex

LT BkFac

CARE B+

66.1

Assigned Rani Aqua Feeds Pvt Ltd

LT Bk Fac

CARE BB-

149

Revised from

CARE B+ Rattan Polychem Pvt Ltd

LT Bk Fac

CARE BB

130

Reaffirmed Rattan Polychem Pvt Ltd

LT/Short- term Bk CARE BB/A4

120

Reaffirmed

Fac S. S. Engineering Works

LT Bk Fac

CARE B+

75

Revised from

CARE BB- Issuer not cooperating; based on best available information Santosh Beej Bhandar

LT Bk Fac

CARE BB

145

- Issuer not cooperating; Based on best available information Sardar Sarovar Narmada Nigam Ltd

LT Bond Issues#

-

-

Withdrawn Shakti Maltare And Lemonade Pvt Ltd LT Bk Fac

CARE B+

100

Assigned Shree Bhawani Lumbers

LT / ST Bk Fac

CARE B+/A4

135

Reaffirmed Shree Contractor

LT Bk Fac

CARE BB

100

Reaffirmed Shree Cottex

LT BkFac

CARE B+

50.3

- Issuer not cooperating; Based on best available information Shree H.D. Overseas

LT Bk Fac

CARE B

60

- Issuer not cooperating; Based on best available information* Shriniwas Education Society

LT Bk Fac

CARE BBB-

173.8 Reaffirmed Sita Ram Rice Mills

LT Bk Fac

CARE B+

65.6

- Issuer not cooperating; Based on best available information* Skp Buildcon Pvt Ltd

LT Bk Fac

CARE B+

15

Revised from

CARE BB- Issuer not cooperating; Based on best available information Sri Anjaneya Cotton Mills Ltd

LT Bk Fac

CARE B+

314.5 Revised from

CARE BB- (reduced from 33.77 Crore) Suasth Health Care (India) Pvt Ltd

LT Bk Fac

CARE D

2200

Revised from

CARE BBB- Swastik Ginning And Pressing IndustrieLT Bk Fac

CARE BB-

70

Assigned T C Communication Pvt Ltd

LT BkFac

CARE BB-

120

Assigned Tree House (NS: THEA ) Education And Accessories LT Bk Fac (Fund

CARE D

120

- Ltd

Based- optionally

convertible debenture) Issuer not cooperating; Based on best available information Tree House Education And Accessories LT Bk Fac (TL)

CARE D

878

- Ltd Issuer not cooperating; Based on best available information Tree House Education And Accessories LT Bk Fac (Fund

CARE D

30

- Ltd

Based- WCDL) Issuer not cooperating; Based on best available information Vasupati Agro Product Pvt Ltd

LT Bk Facility

CARE B

57.2

Assigned Vijaya Durga Green Fields Pvt Ltd

LT Bk Fac

CARE B

80

- Issuer not cooperating; Based on best available information Vishakha Renewables Pvt Ltd

LT Bk Fac

CARE BBB- (SO) 397.9 Reaffirmed (enhanced from 38.25 Crore) Vishakha Renewables Pvt Ltd

LT / STBk Fac

CARE BBB-

180

Reaffirmed

(SO)/A3 (SO) (enhanced from 3.00 Crore) Westin Resins And Polymers Pvt Ltd

LT Bk Fac

CARE BB

195.3 Reaffirmed Witty Enterprises Pvt Ltd

LT Bk Fac

CARE BB+ (SO) 1000

Assigned York Print And Pack

LT Bk Fac

CARE BB

74.8

Assigned -------------------------------------------------------------------------------------------- $: Rating watch with positive implication #: Rating Watch with Developing implications @: Rating Watch with Negative Implications %: Rating under Credit Watch wd -Rating Stands Withdrawn sp -Rating Suspended pp -Principal Protected pn -Principal Not Protected CARE may apply + or - signs for ratings to reflect a comparative standing within the category. BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN -Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) - Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture; PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional; PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.